JPMorgan is cutting about 1,000 First Republic Bank employees On Thursday, JPMorgan Chase informed around 1,000 First Republic Bank employees that they would be losing their jobs. The majority of First Republic’s assets were acquired by JPMorgan earlier this month when the government seized the regional bank with headquarters in San Francisco. The second-largest bank failure in US history occurred as a result. Offering Temporary Positions According to a JPMorgan representative, the bank informed all First Republic Bank employees about their future job status on Thursday, and the vast majority of them, or approximately 85%, have been offered temporary or full-time positions. A total of 1,000 First Republic Bank employees, or 15%, are still waiting on a job offer. The Financial Times had already reported on the impact on jobs. According to JPMorgan, not all workers were included in the company’s May 1 agreement with the Federal Deposit Insurance Corporation to purchase the majority...